$BTC 🚨 Summary of the most important economic and crypto news in the past 24 hours:

🔵 Massive liquidation in the crypto market:

• 245,425 traders were liquidated, with a total loss of $656.60 million.

• The largest single liquidation occurred on the Binance platform for the

ETHUSD_PERP pair, worth $4.07 million.

🟢 Federal Reserve decision (12/18/2024):

1. Interest rates were cut by 25 basis points, bringing the total to 100 basis points for 2024.

2. Dissent from Cleveland Fed President Beth Hammack.

3. Two more rate cuts are expected in 2025, totaling 50 basis points.

4. Inflation forecasts for the end of 2025 were revised from 2.1% to 2.5%.

5. Unemployment is expected to reach 4.3% by the end of 2025.

6. No further interest rate cuts expected after 2025.

📉 Impact: Positive for the US dollar, negative for gold and financial markets.

🇺🇸 Powell’s Notable Comments:

• Jerome Powell: “We are not allowed to own Bitcoin, and we have no plans to change that law.”

• These comments negatively impacted the cryptocurrency market, reflecting the Fed’s cautious stance towards digital assets.

💥 Financial Markets:

• The US stock market saw a massive liquidation of $1.50 trillion today.

• Cryptocurrency market liquidations have reached $310 million so far.